Economics is primarily concerned with the study of:
a. problems such as poverty and unemployment
b. limited desires pursuing unlimited resources.
c. production and distribution of goods in a world of unlimited resources.
d. production and distribution of goods in a world of limited resources.
d
Economics
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Which of the following statements is a normative?
a. The price of gasoline is rising b. The price of gasoline is too high c. Gas prices are expected to fall in the near future d. Cars can run on gasoline, electricity, or diesel fuel e. When the price of gasoline rises, drivers buy less gasoline
Economics
A monopolist has equated marginal revenue to zero. The firm has:
A) maximized profit. B) maximized revenue. C) minimized cost. D) minimized profit.
Economics